IRS Seizing Small Business Accounts Because of Cash Deposits

Posted May 13, 2015 by Martin Armstrong

The IRS is seizing accounts of small business operations under the crime called “Structuring”. This is where you deposit less than $10,000 two or more times to try to avoid the bank reporting the cash deposits. Lyndon McLellan made two deposits amounting to $11,400 within a 24-hour period. The IRS seized his entire account of $107,702.66, assuming his store is entirely illegal. This is by no means the first story of this nature. This is the new scam. They are seizing the accounts now of small businesses who deposit cash from sales.